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the rest of the world. so 90% of the what happens in growth has nothing to do with washington. it's coming from the private sector itself and we're overcoming a lot of difficulties. on the government side, i think the president's plan is let's grow from the middle out. let invest in the workforce. let's invest in rebuilding the infrastructure of the country. let's try time prove the competitiveness of u.s. industry and we have got to shift to more export and investment-led growth and away from residential investment and consumer spending. i think that's the overview of what he was saying in the campaign. and i think you are right, laura, that the only thick that we were arguing about was high income people's tax rates and should they go back to what they were in the 90's. that would be totally inadequate as a complete plan. i think in 2013, i wish we could do it before, but i think it's going to be 2013, i think we're going to sit down and they probably will hammer out something like a grand bargain. that would be a pretty big accomplishment. that will involve substantial -- will have to i
of it is prevalent in the papers. wednesday with congress and the president heading back to washington. here is a headline on "usa today." in the wall street journal -- if the in "the washington post." we welcome your phone calls. we will get to them in a moment. we did find another piece at politico. there you have it in the papers this morning about people being optimistic or pessimistic about things. i want to dig a little bit deeper into "the wall street journal" piece. i we will probably see some what of a flurry of activity tomorrow. if first call. what is your name and where are you calling from? i think that caller is gone. let's try the next call. caller: i am optimistic because this is a great country. we are one nation under god that. i think people ought to turn to their faith during these times because we have always needed to through hard times. host: how will this play in washington but the fiscal glove? caller: i think the republicans are going to have to give it more than the democrats. president obama is basically going to do with the people voted him in for. i think he wil
the alternative minimum tax is affecting fiscal negotiations. "washington journal" is next. ♪ ♪ host: 25 days to go before the united states faces the fiscal cliff, the white house has rejected a proposal from house republicans to prevent tax hikes and spending cuts at the end of the year. no formal talks between the two sides are scheduled today. will go outside the nation's capital to get your voice involved. republicans -- democrats -- independents -- send us a tweet, post your comments on facebook, or send us an e-mail. we begin with some of the papers across the country today and how this latest proposal from house republicans is playing out in the papers. courtesy of "the atlantic journal-constitution" -- here is "the denver post" -- finally, here is "of the arizona republic" -- here is "the washington post" on what is inside this deal -- we want to get your take on this. what do you think? ted in new york, a democratic caller. what do you think? caller: good morning. i do not think it goes far enough. i think it was greenspan that i heard last week said in a discussion panel that a rec
of washington; right? low for a deal to meet the deadline. the markets show traders, well, they are not exactly optimistic. right now, stocks down 69 points, moving lower for the fifth straight session. one crisis, however, has been averted on the east coast and gulf coast. a massive looming port strike will not happen, at least for now. going live to miami ahead in a few minutes for up to the minute details on that and why it's not -ealing a blow to the u.s. economy. first, stocks, as we do every 15 minutes, going to the floor. new york stock exchange. lauren is there watching it. any indication from the investors and traders about a deal? are they telling you if they have an inside scoop? >> they do not have an inside scoop, but there's con play sen sigh, and stocks stuck in the range, down half a percent for the broader market, down for five days in a row waiting, two hours from now, to hear somebody in washington say something about fiscal cliff, and then we'll move on that news, but traders are saying if we get a deal done, we'll see the market take off. we have not seen a santa claus rall
journal" columnist and political diary editor jason riley and washington columnist kim strossel. dan, we would like to say for a longtime we live in a center right country. if you l look at the last two presidential elections, that doesn't seem to be the case. are we living in a new progressive era? >> in terms of the presidency, i think we are, paul. i am not sure about the country. i think what barack obama has in mind to do is indeed to redistribute income from the top downward and not to cut spending, but to increase spending. it is explicit from historic 20% of gdp to 25% of gdp. rather than cut spending, raise taxes as necessary to support the spending. and i would say that is in fact the french model. the question is whether that model can produce enough growth to support jobs in the economy.en >> noen question, jason. taxes are going up. we know that. spending going up for sure even before the health care law kicks in. so we are moving in that direction, particularly in the entitlement state. >> right. >> not reforming it, but actually expanding it. >> what happened was the supre
. >> it's over. she's feeling better. in washington state at midnight when the clock struck midnight, pot became legal. depending on who you ask. but they voted and pot is legal and gay marriage is legal in washington state. gay couples lined up and at midnight, they had several ceremonies and several gay couples were married. one of them was dan savage, sex columnist, very well-known. >> bill: no kidding. >> he married his long-time partner, terry in washington. if you're in washington state, i would suggest you get high and then go get married because you're going to need it if you're planning on getting married. welcome to the club. for those of you getting married. >> bill: congratulations again to the voters of washington state for doing the right thing there and to the voters of washington state and colorado for doing the right thing when it comes to marijuana. but i would say on disappointing news to me is that the justice department yesterday announced that they want everybody to know that pot is still an ille
news headquarters continues from washington. keep an eye for santa out there. he is on the street. >> shannon: who will blink first? the obama administration says the ball is in the g.o.p.'s court. republicans insist it's the president's turn to get serious about dealing with our country's debt. >> it's unfortunate that the white house spent three weeks doing basically nothing. >> this is a very carefully designed set of reforms. if republicans would like to go beyond these reforms, or they want to do it differently, they should tell us how they want to do it. >> i believe raising tax rates hurts our economy, hurts the prospects for more jobs in our country. >> shannon: as the sparring continues over the fiscal cliff, neither boehner nor geithner can say for certain that the country will not go over the edge. i'm shannon bream. america's news headquarters live from the nation's capital starts right now. >> shannon: we want to get to the budget standoff. peter doocy joins us live. there is time to strike a deal but not a lot. >> reporter: that's right. the speaker of the house john
how some states are bucking the washington trend next. thanks to our explorer card. then, the united club. my motr was so wrong about you. next, we get priory boarding on our flight i booked with miles. all because of the card. and me. okay, what's the plan? plan? mm-hmm. we're on vacation. there is no plan. really? [ male announcer ] the united mileageplus explorer card. the mileage card with speci perks on united. get it and you're in. when the doctor told me that i could smoke for the first week... i'm like...yeah, ok... little did i know that one week later i wasn't smoking. [ male announcer ] along with support, chantix is proven to help people quit smoking. it reduces the urge to smoke. some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix. if you notice any of these stop taking chantix and call your doctor right away. tell your doctor about any history of depression or other mental health problems, which could get worse while taking chantix. don't take chantix if you'v
that reflects conservative ideas. match that with the researchers in washington that to the policy work for heritage. connell: i think a lot of people will hear or read about this today and think about the conversation we have been having about the future of the republican party. does the tea party still have, you know, lindsey graham just put a statement out saying he is very disappointed that demint is leaving. the conservative movement lost a strong voice. he will do a great job at heritage. is this part of that story? >> i think senator demint believes that the republican message going into the election was a strong one. it just simply was not well articulated. i agree with senator demint. i do not believe that the republican party has to transform its position and become more moderate. take an idea like economic growth. the difference between 2% growth and 3.5% is a different like night and day. senator demint told me he started his career as a market researcher and advertising. he knows how to communicate with people. he became very frustrated sitting in the senate failing to do a
and forth there are signing of a compromise. steve centanni is live in washington. are the two sides any closer together? >> reporter: there are two important signs today. speaker, house speaker john boehner met with president obama at the. we don't know how long they met or exactly what they talked about, but the white house says lines of communication are open and face-to-face meeting is on important. at the same time republicans say they will accept the demands for higher taxes on the wealthy if it goes along with spending cuts entitlements like medicare and social security. listen.... >> a lot of people are putting forth a theory. i think it has merit where you give the president 2% increase he is talking about on the top 2 percent. i am beginning to believe that is the best route for us to take. >> reporter: many other republicans, of course, standing firm against any tax increase. they could give the speaker a hard time if he tries to pass the kind of legislation corker was talking about there. >> and how are the democrats reacting to accept the higher tax rates? >> reporter: they
this morning. our videographer in chief. >> the washington fuel team he is representing with his hat. >> redskins hat. >> they changed their uniforms. no. it's a weird sort of -- >> did they change their name? >> not yet. >> they should change their name. >> not yet. they are playing the baltimore ravens. big game. goad up the shoreway at baltimore. >> fedex field. >> which is halfway. >> by any stretch of the imagination, fedex field is not in washington. >> no. no. no. >> it's maryland. >> they should have played right here at rfk stadium if you ask me. >> baltimore ravens begins the landover redskins. >> right. exactly. so the christmas season is upon us. i was surprised at the whitehouse the other night that the the white house all festively decorated? >> more beautiful than i remember before. i have been there for a lot of christmas parties. this year, they poured it on. it's magnificent but i was swats when i left, i said to carol the white house screes tree on the ellipse is not lit. last night was the night. the first family there with
to be for the rising movie industry. cet will head out to washington as president obama is pushing forward his tax for the wealthy agenda. george osbourne is going to update today. the chancellor will have his work cut out to meet his target of eradicating the federal deficit by 2015 as well as securing a fall to gdp ratio. also expected further pressure with a cut to its growth forecast. steve is braving rather inclement british winter weather outside the houses of parliament. >> lovely. >> i know you like it. how much is it going to be raining on george osbourne's parade? >> it's going to rain on his parade. you just nailed it, ross. three things which are going to come up today, which he has very little control over. one is that obr reckoning on the uk economy. thought only back in march it was going to grow -- pain a negative growth for the year. next year they thought it was going to be 2% growth. it's probably only going to be 1%. in terms of those two targets you mentioned, eradicating the structural deficit in a five-year period, that's going to have another couple of years. >> right. now,
the 2012 presidential campaign. we will be live with your calls, tweets, and e-mails, "washington journal" is next. ♪ host: good morning , president obama is in hawaii this weekend for the christmas holiday with his family. he will join a congressional delegation later today led by harry reid in services in holland -- in honolulu for late senator daniel inouye passed away last week that congress will return monday to continue fiscal negotiations. we will look at the options ahead for the president as the january deadline looms but we want to begin with your comments on another debate front and center in washington following the tragic shooting in newtown, conn. -- that is gun-control. "the washington post" said a bitter fight ahead. the numbers are on your screen. we look at some of the headlines on the sunday morning beginning with "the connecticut post." - you can see the flag remaining at half staff outside one of the churches in newtown, conn. following the burial of 20 children and six women killed about a week and a half ago. this is from the front page of today's "new yor
at the washington cathedral, it was his really earliest political inspiration. both the president and senate majority leader reflecting on daniel inouye both a long time legislator but two days they will be getting back to work on the fiscal cliff. >> heather: the difficult job of reporting from hawaii, thank you so much, ed. >> gregg: the mother of john hammer telling her son is now in a louisiana hospital. he was released from a mexican prison last week after months behind bars. mexican authorities arrested him after he carried an antique shotgun into their country, even though he says he legally declared the weapon and had a permit for it. today his dad reportedly brought him to the emergency room during their drive back together to florida. his family reported he had a stomach flu of some sort. earlier his mother was clearly relieved to hear that her son was on american soil. >> it was like my first night that i slept all night long without getting up. it was just the thought of not wondering what is going on with him. can anyone hurt him? he is eating and he is able to actually have a m
>>> from nbc news in washington, the world's longest running news program. this is "meet the press." >> that's one of our key jobs, helping to restore american faith, what the stock market is all about. i have a certain vision for what this country is going to be for my kids. that gives me purpose. >> optimistic yesterday, but we don't yet see an agreement. now the pressure is on congress to produce. if they don't, what i've said is that in the senate, we should go ahead and introduce legislation that would make sure middle class taxes stay where they are and there should be an up or down vote. everybody should have a right to vote on that. if republicans don't like it, they can vote no. but i actually think there's a majority support for making sure the middle class families are held harmless. >> if you go over to cliff, what's the impact on the markets which have been pretty confident now it would get done? >> it's hard to speculate on the market, but obviously, i think business and investors will feel more negative about the economy next year. if you look at projections of 2013,
the grand bargain that many leaders once imagined. as we take you through all the latest on the "washington journal," we would like to hear what you would like to say to congressional leaders on this 11th hour deal. what tax and spending issues do need included in any compromise. republicans, your number is -- democrats -- independents -- if you are outside the u.s. -- you can also catch up with us on all your favorite social media sites, twitter, facebook, or e- mail us. a very good morning to you. taking to the latest headlines on the fiscal cliff. i will run a few -- through a few of them for you. from "the daily news" -- also "l.a. times" -- i will take to "a "boston globe"" -- "the boston globe" -- the new york post -- the story i want to start with this morning is from politico. that line is -- senate leaders are headed into a critical sunday session of congress with a similar mission to avoid historic tax hikes, setting the stage for a high wire a final act of fiscal cliff negotiating just two days before the country is hit with a series of tough austerity measures. -- that again is
relief with just two pills. ♪ >> well, washington may have made a big left turn this year, but in states across the country, another kind of reform is in the air. we begin in michigan which this month became the nation's 24th right to work state. we're back with jason riley and kim strassel and wall street journal senior economics writer steve moore also joins the panel. so, steve, this is really an interesting story that i don't think gets enough attention. >> i agree. >> paul: the reforms taking place across the country in a lot of states. who are the stars you're looking at? >> i entirely agreement with your premise, paul. if you look at, talk about the demise of the republicans on the national levels we're not seeing that on the state level. there are 30 republican governors today in america, the republicans actually picked up a governorship in north carolina so that south now is almost entirely republican, whereas just 25 years ago, it was pretty entirely democratic. and it's not just the south. states like-- >> what are they doing with that power, that's the interesting thing. >> s
not exactly a bass chan of conservative open borders, "the washington post," and i particularly direct this comment to steve and suggest he tuth have some conversation with the post. on the seventh of july, it put out a major article and this was the headline. u.s. pushes for more scientists but the jobs aren't there. i'll give you a quote in a moment. i did take the opportunity since my agency has a few scientists to interview about this and i said what is your opinion. not all, but the consensus overall, why are we here, we're here because the jobs aren't in the private realm. a second source was organized labor that i recently went to in view of this forum and the public relations person said we agree with the "washington post." i'll leave you with one quote and i invite steve to approach the post. there have been many predictions of science labor shortages said the editor of the online magazine science careers and yet it seems awfulfully hard for people to find a job. anyone who goes into science expecting employers to clam more for their services will be deeply disappointed. >> we
-- facebook page. the american people get it. washington is addicted to spending someone else's money. the house has passed two bills that would avert the fiscal cliff. in august to pass a bipartisan bill. the house passed legislation to avoid sequestration by cutting spending. our plan is to take your calls and hear from you over twitter, and to wait it out, to wait and hear what we hear from capitol hill. our cameras are on capitol hill and we hope to be able to give you some coverage of briefings happening on the hill. so far, the house is out and the senate will be out shortly once they finish this series of votes. and it was 12:15 eastern, writing a major setback in fiscal cliff talks. you may have heard sheila jackson lee question this. that negotiations between harry reid and mitch mcconnell suffered a major setback after republicans demanded the inclusion of a new method for calculating benefits for the package. change came from progressives to result in lower payments. part of the current negotiations on the scale down deal, they say that they gave ground on other issues, inc
. >> in washington, msnbc and "time" senior political analyst, mark halperin. >> we saw him on the streets of d.c. yesterday, and he was very cagey. >> the mean streets of d.c. >> yes. he was so cagey. >> he was. >> yes. yes. >> you can't ever ask those guys what they're doing, wherever they are. where you going? with who? a meeting. >> auditioning for a gang is what i'm doing. >> right. >> yes, exactly. lots of luck with that one. >> should we get to the news? >> fantastic. boy, there's some stories here, unbelievable. >> in the least. >> you talk about libya. i tell you what, you've got assad about to cross that red line. he's going to see russia leaving quick. i think you'll see even troops going in there if he starts using chemical weapons against his own people. about to cross the line. egypt, morsi in trouble. the biggest revolt since mubarak was pushed out of power. "the new york times" also has another fascinating story. john boehner gained strong backing of the house gop. they actually say that the speaker's more powerful today than he has been since he became speaker two years ago. >>
no idea what is the future because of washington. >> given the data points that we've had in terms of claims numbers that did reflect an impact from sandy, they said 85,000 jobs or 86,000 jobs were sliced because of impact of sandy. average hours worked unchanged. doesn't that -- i don't know -- doesn't that bring into question a little bit the participation in the survey. how can it have no impact whatsoever? it seems curious to me. >> it does call into question whether these numbers can be accurate. we have been starting to think let's check accuracy. why isn't this done by s.a.p.? why aren't numbers done by oracle or salesforce.com. >> those are private companies. i'm just saying that you wouldn't question the data if it was done by a company that got a contract like s.a.p. and put these numbers together. i am beginning to question how these numbers are put together. that number was -- i agree with you. sandy has no impact? >> on number of hours worked. >> a lot of country was shut down during sandy. >> even before the number hit, people were saying you got to incorporate poll w
well that in washington when you're talking about obligating a future congress to make cuts, that's not a deal. and that's the same hook that republicans have always gotten hung on in previous negotiations with democrats when rate increases are on the table. so republicans are saying, look, we'll go 37%. we may even talk about 39%, but we want to see real cuts that are right now, not something that you're going to obligate the congress of 2020 to do because that's not going to happen. >> but that's fine, michael, but that's not what they're saying. >> that is what they're saying. >> no, no, no. boehner wrote a letter in plain english, typed it out, no rate increases, period. not no rate increases -- >> come on. steve, like that means something? >> hold on. so he wrote that letter. the president said we're not going to move from 39%. the president -- >> no, he did not say that. >> let me finish. the president subsequently said we can meet them halfway, and boehner did not rule out a 37% number. >> no, he briefly didn't rule it out, and then he ruled it out. >> it's still on the tab
going to get serious. >> washington remains. >> that is a bad strategy for america. it is a bad strategy for your businesses and it is not a game i will play. >> but the fiscal cliff still looms. cnbc has called on lawmakers to rise above gridlock and reach a deal. now we're beating down their doors. live from our nation's capital, this is a cnbc special report. mission critical, rise above d.c. >>> welcome back from our nation's capital. i'm mario bartiromo with brian sullivan. we continue our fiscal cliff coverage, "mission critical, rise above d.c." we've heard a lot after a morning of interviews and action on capitol hill. here is what we know now. just a short while ago house speaker boehner said he's still waiting on a solid plan from president obama. >> i'm hopeful we can reach an agreement. this is a serious issue. there's a lot at stake. the person people sent us here to work together towards the best possible solution, and that means cutting spending. the president doesn't agree with our approach, he's got an obligation to put forward a plan that can pass both chambers of the c
is that if there is some movement until the positive direction, which have not seen out of washington and enter a long time, -- in a long time, at least we will not see head winds. we are making some progress. i see that continue. >> i want to come back to what todd said earlier. i am concerned about confidence being fragile. todd reference what happened until august of 2011. we saw in limited to lie confidence tank. market confidence grew jog with some of the market confidence plunged. i think we have to be concerned -- market confidence plunged. if we look like we are not grappling with these key challenges. what happens on january 1, everybody is saying it is a fiscal clove -- a fiscal slope, not a fiscal cliff. it is not like a zombie accomplice happens. if market confidence was up the window, that could be damaging. >> i think is likely there is going to be a deal, some other deadline for another deal next year. it is really important and they not said a whole series of opportunities to have that kind of collapse again. they have a couple months, but they have to make sure whenever they come up with f
. all day long on cnbc, we are here in washington holding lawmakers feet to the fire and finding out if they are doing their part to rise above partisan politics and reach a deal on the fiscal cliff. good morning again, everybody. i'm becky quick. here is what we know right now. the pace of private talks picking up speed as we now have just 20 days left. however, neither the white house nor house speaker boehner's office are giving any public indication that either side is yet prepared to give up real ground. on a road trip yesterday, president obama indicated that he is willing to compromise, just not on that point about an increase in tax for relthy americans. meantime, speaker boehner says he is still waiting on specific spending cuts. joining us now for analysis, tony fratto, of hamilton place strategies and former white house press secretary and gerald bernstein former economic adviser to vice president joe biden. gentlemen, thank you for being here with us and getting this special day of coverage kicked off for us. >> rising early and rising above. >> exactly. let's talk about
to this story. you will keep a straight face because it's important. >>> the "washington post" is reporting the u.s. army is getting rid of soldiers, dismissing them because they don't meet fitness standards. obesity is a rising concern in the armed forces, has even been cited by military officials as a national security concern. between 1998 and 2010, the number of active duty military personnel characterized as overweight or obese has more than tripled and now the leading cause of ineligibility for people who want to join the army, according to military officials. want to know what the healthiest states are? >> i want to know how to live longer. the u.s. today says sitting on the set of a show is not the way. >> sitting too much or in snow too much. unless you live in vermont, massachusetts, connecticut or utah. >> unhealthiest, alabama. >> will die. >> south korea, west virginia, arkansas, louisiana, mississippi. >> what all those states have in common. north carolina. i see no trend. h i was in the land of -- let's do the news. >> i just was, actually. >> two sides of the story. >> okay
on in washington, they can't make sense of it. >> do you think it's change at all? -ust a fever pitch with the cliff coming up? >> it's getting worse. it used to be there were big people in the senate and house who wanted to do the public good. right now, at the process, neither side is committed to it. >> what's next then? it was interesting this weekend to hear, for example, john boehner on with chris l wallace on fox news saying we're nowhere. shouldn't they counter with the president even if they think it's a ridiculous offer? >> if i'm advising the republicans, which i'm not, i'd over a republican plan that's progrowth, pro job creation, get rid of grover, and say this is what we're for, mr. president. here's the plan. i would say let's bargain in good faith. >> the sunday talk shows, geithner saying republicans need to deal with it, and others it's a stalemate. do you think that's for show though? it seems like the deals in washington, at this time of the year happen at the 11th hour, last three years especially for taxes. >> could have been for taxes, but,,and the but is very i
it to run up as much debt as he pleases. "the washington post" offers to push the debate way into next year and then boehner says, okay, but only if the president agrees to spending cuts. so, mere is where we stands this monday morning, no deal, but a shift in principle by speaker boehner. tell us what you think of boehner's proposal. i don't think that conservative will like this one. post it on our facebook page. the nation's mood is somber this morning, the country is in mourning following the events friday in newtown, connecticut, father jonathan morris on that next. ♪ ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of year, they shine en brighter. come to the winter event and get the mercedes-benz you've always wished for, now for an exceptional price. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 glk350 for $399 a month at your local mercedes-benz dealer. you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps
heading back to washington tonight to restart the negotiations on the so-called fiscal cliff. if mr. obama and congress can not agree on a stopgap measure, automatic hikes and spending cuts will hit americans jan 1. peter doocy live in washington with more on this peter, what is the latest? >> reporter: gregg, the president said on friday he would see it this week and maybe if lawmakers went back to home districts to drink eggnog and eat cookies and sing christmas carols maybe they would be more in touch with the hardship so many americans are going to face if the fiscal cliff is not avoided. >> there is a mismatch right now between how everybody else is thinking about these problems. democrats and republicans, outside of this town and how folks are operating here and we've just got to get that aligned. >> reporter: the president's wife and daughters are going to stay in hawaii to continue vacationing. we're told the president may rejoin them or he may not. it all depends on how negotiations progress in the next few days. gregg: well, you know what, peter? there's not lost love between boe
it totally mythical numbers, that nothing is actually being done at all. >> "the washington post" did a column on this where they look through some of tim geithner's numbers and it was a little concerning. >> smoke in mirrors. >> goes after the entitlements. >> but this is the deal that's going to happen. the cuts there are going to be real or the republicans won't play. >> right. >> and in return, the revenue side of the equation is going to be more consistent with what the president's looking for. i think he's serious about the rates. >> you can't even guarantee that guys like demint and that wing of the part -- you saw what he said yesterday. >> i didn't see what he said. >> he said no way. 800 billion in tax increases. we're saying it now like it's normal. 25% of gdp for government spending and you've got bloated government already, you start there. you start at government spending. you don't immediately start spending another 50 billion in stimulus. >> that's going to be the question that boehner has to deal with. the president will have to deal with the far wings of his party. b
deficits for as far as the eye can see. washington has got a spending problem, not a revenue problem. if the president doesn't agree with our proposal, i believe he's got an obligation to families and small businesses to offer a plan of his own, a plan that can pass both chambers of the congress. we're ready and eager to talk to the president about such a plan. >> you did speak with the president earlier this week. can you characterize that call? did he have any kind of count offer and we understand that he is making clear that it's got to be increase rates for the wealthy or no deal. are you willing to give a little bit? >> the phone call was pleasant but was more of the same. the conversations that the staff had yesterday were more of the same. it's time for the president if he's serious to come back to was a count offer. >> the jobs record indicated unemployment is down roughly a full point from this time last year. if no deal happens -- [inaudible] . why take such a risk when the job numbers are improving. >> because increasing tax rates will hit many small businesses that produc
earthquake the market will think something is going to happen in early january this is the way washington works, they walk right up to the edge of the deal, maybe even past the edge of the deal and then something happens. i still think the market believes there will be a deal, but it is a deal that might happen on january 14th. so, i don't think december 31st is a real deadline, in the mark it's mind. >> steve, tell us, what are the things that can happen that will sort of rouse the market here, move the market up or down ire way? >> well, first of all, i think the tendency for the market right now is to go higher because you have zero interest rates and zero interest rates act as a tremendous stock market flotation device. opposing investments are, you know, yielding essentially nothing at this point, so stocks become very attractive. but i still think the big story and the stories that most traders will be watching is the fiscal cliff so that's story number one. an interesting thing happened yesterday and that's the price of oil traded to an all-time high going back to october, not an a
up. i'm concerned that we're debasing our currency to a certain extent. washington has yet to revoke the laws of supply and demand, and we certainly have supplied the economy with a massive amount of liquidity with the same goods and services, the balance has to be priced, and a price situation is going to be higher levels of inflation and they are keeping rates down pretty much right now. >> yeah. >> we have a diminishing level of return, and that's what's happening. we're pushing rates down, but it's not having the impact. >> lower bang for your qe buck as steve liesman put it earlier on. >> thanks for joining us. always good to see you, eyore pento. >> putting fire into the conversation. >> thank you. >>> so much for the holiday cheer. with the rate things are going in washington, there will be plenty of holiday jeer between now and the new year. >> the president's called for $1.4 trillion worth of revenue. that cannot pass the house or the senate. >>> well, two former presidential candidates face off after the break. i feel like i'm going back to 2008 or 2004. steve forbes says n
. i want to get to washington with some of the latest headlines regarding speaker boehner and what eamon is referring to as plan b. >> what we know is the speaker is in the basement of the capital building here right now, meeting with republican lawmakers to brief them on the status of the fiscal cliff negotiation, and what a gop leadership aide is now telling news news is the speaker is now prepared to offer what he's calling a plan b, or a modified plan b in which we don't do the grand big deal that the president and speaker of the negotiating on, but instead do something much smaller that would eliminate the pending tax increases for all americans, the speaker saying that he would like to have some kind of a deal, a modified scaled-down proposal now that would eliminate those for as many people as he can. the details are very sketchy on what modified plan b actually means in practice. but basically, it's something he can keep in his hip pocket right now in case these negotiations with the president don't bear fruit. and presumably what we're talking about here, carl, is a little
in affecting the lives of every single american. so with washington on vacation, is this now simply unavoidable? we'll take a look for answers next. >> i think the president is eager to go over the cliff for political purposes. i think he see as political victory at the bottom of the cliff. heather: we have breaking news of yet another shooting. just crossing the wires. report that is a gunman has opened fire on firefighters responding to an emergency. this happening in webster, new york, near lake ontario. david lee miller live in our new york newsroom with the latest. david lee, what can you tell us? >> reporter: many details are still sketchy, heather but at this hour i can tell you firefighters were responding to a blaze at 6:00 this morning in the town of webster. webster is a suburb of rochester, new york. it is difficult to fight a fire when temperatures are 30 degrees. someone according to media reports, someone opened fire on firefighters. two firefighters are being treated. they will not disclose to fox news the reason for the ailment. the ap is quoting a local newspaper saying one fi
in places like washington, d.c., new york and los angeles. and the strike at the port of los angeles long beach is entering its seventh day this morning. contract talks between clerical workers and shippers have resumed. the walkout is dramatically slowed activity at the nation's a busiest cargo complex, dockworkers have refused to cross picket lines. >> this is a big deal. i don't know if you think this will have economic impact down the road. national retail federation is worry that had it will spread to the east coast just ahead of the christmas holidays when so many people are out shopping. really a bad time for them. >> it could. l.a. and long beach, biggest port in the united states. >> did you see on the waterfront? you don't mess with -- >> it's the clerical workers that are striking. >> it is? i'm not afraid of that. >> the dock workers don't want to cross the picket line of the clerical workers. >> oh, i'll cross that line. i thought it was the guys with the big boxes and they drop boks on you if you cross that -- will do you remember that? >> i lived in hoboken and i saw parts
. lori: a showdown in washington. sparring over a dead deal. it does not look like either party is ready to budge. where are we now, rich we are still in the middle of a work in progress. that could be a little bit of an understatement. democrats say they want a commitment from her republicans. basically, we are in the same spot. here we are at the 11th hour and the president still is not. about dealing with this issue right here. it is this issue. spending. >> the public posturing continues. there is a questioning today about whether or not we get to the point where tax rates are ready to increase on nearly every taxpaying american. the speaker would not comment. back to you. lori: so frustrating. rich edson, thank you so much for that update. lori: we will be on pins and needles for a while. the voters are sending mixed signals. voters think the best way to deal with the countries deficit problem is mostly with cuts and government spending. majorities say major spending cuts are necessary. that solely raising taxes on the wealthy is not enough. even so, the most popular is raise taxes
of different cross currents from what people were hearing yesterday in washington. market well above 100. >> ended up 85 for the day. >> i guess the demise of john boehner as speaker was greatly exaggerated. did you see this "new york times" piece? more support for boehner now than anytime in his speaker ship. is that's setting up for -- >> but it is social media and twitter allows to you see these things. >> sausage factory into the front of the kitchen. >> exactly. >> geithner didn't use the word marginal rates had to go up, just said rates. >> rates are already going up. there will be a tax increase to people making more than 250 anyway because of the health care law. so the idea that somehow they will get a freebie is just crazy. >> california at 52%, new york and other places -- >> when you add up all the state and local taxes. hawaii is above 50, as well. >> hawaii is worth it, though. >> california is not bad either. >> unless you need to drive somewhere. right? and don't have a helicopter. >> there's a reason the president takes a helicopter anywhere. you can't drive in d.c. sdl
-year, and this, when we used to go and see greenspan down in washington, he said everything else you have on your ticker, i need to see the 10 year. i need to see that every morning. nothing has happened in the ten year for the last -- i don't know. it's just not as interesting as it used to be to watch. when it's manipulated, it's not that interesting. >> one of the things about qe is that it's volatility. and you have seen implied vols down in all asset classes, including bonds. >> because things normally are volatile, that just shows us once again this is not letting things -- letting the chips fall where they may. >> yeah. i think it's baked into the cake. >> but i think he's on to something. the fact that the fed is there, the fact that the fed is trying to get ahead of the fiscal cliff and we've got these big bond buying programs. and the last time, remember, in august of 2011 when we had the last showdown, what happened? bonds rallied. >> and you said you want this to be fixed. you almost need the markets to be more volatile than they are. >> that's one of the theories that people have thr
big thing is no vacation without legislation. >> right. >> the "washington post" said as of last night, the halls of the capital were virtually deserted. >> cody's the only guy working there. that's embarrassing, isn't it? >> the president is scheduled to go to hawaii a week from today. >> it's boehner and obama. >> there are things, there's a telephone. understand, they have phone service in ohio and hawaii. >> there's an urgency here that dave cody gets. why? because he has said, i'm not hiring until we get this stuff fixed. now, why doesn't that -- well, everybody, the job, small business job creator. come on, man. honeywell hires. that means other towns do great. that means you get into a very virtuous cycle mode. david, it is not about the small businessman. the little businessman doesn't do well unless the big businessman does well. >> who are they selling to? >> honeywell just hired 200 people. >> no doubt about it. >> the opening bell here at the new york stock exchange for a friday. top of the screen, the s&p 500. nasdaq, avago technologies. >> single-family rentals, homes for
. rocket propelled grenades and ak-47s. bill: steve centanni follows up in washington. what can we report about this rescue machine? >> reporter: good morning bill. it took place early sunday after intelligence revealed the kidnapped american was in imminent danger of injury or death. dr. joseph is a medical advice sore for a group called "morningstar" development based in colorado springs. it is a group that helps rebuild communities in afghanistan. the doctor was not injured. this happened in eastern kabul province. they were abducted by a group of five men while returning to a visit at a medical clinic. an isaf spokesman describes the rescue effort. >> it was a combined operation in order to rescue int operation. seven of those captures were killed. and the task force decided to start the operation since the assessment was there was imminent danger of injury or death to the individual. >> reporter: the identity of the other two aid workers has not been released, bill. bill: what more about the knave very seal killed during this operation, steve? >> reporter: his identity is not release
or the "washington post." 180 degrees. >> what did he mean? >> there's plenty for conspiracy theorists today. ties to all the central banks all around the world, they have these secret dinners every couple of months. as if the fed needed more distrust among fed watchers, right? >> i havend the privilege last r of going to a dinner with fisher, who is crucial -- you look at the diagram. this is just an alumni association that has allowed other people in. this is an m.i.t. thing. fisher is regarded as being the man who saved east asia in the '90s. you know, these guys have been more than upfront that there's a club. i think it's just being written about for the first time. >> yeah. mark, the consensus is $45 billion in monthly purchases of treasuries. that's what's expected. if we don't get that, a lot of market analysts believe that the markets will be extremely disappointed. this off of a string of gains. the first five-day winning streak for the dow since march. the dow, in fact, is at, what, the highest level since october 22nd. s&p the highest level since november 6th, which, of course, was the
this every time in washington. it gets to people after a while. regular people who just hear about it. even if it does not affect them that much. they just start to think, the government cannot do anything right. say they do. say they cut a deal. they come up with some sort of fiscal cliff solution, if you can call it that. what does the economy look like dead? >> i think that regardless of a solution, i think the economy will pick up. it is like a speed trap. you will slow down to some ridiculous slow speed when you go through that town. once you know what the rules of the roads are, you will come back through a little bit faster. connell: what are the things that we are doing right? >> well, the one area that is really picking up is homebuilding. homebuilding will do better. it will do better next year in a matter what happens in the economy. the inventory of new homes is that in inventory low. even if sales pulled even, construction will pick up. i am trying to balance that optimism with the reality when you look at past recessions, recessions are typically caused by policy mistakes. the
on in washington. we have the latest and we'll speak with representative jack kingston, republican from georgia. he's a member of the house appropriations committee. we'll find out where he is willing to compromise as those negotiations go on. how they'll live tomorrow. for more than 116 years, ameriprise financial has worked for their clients' futures. helping millions of americans retire on their terms. when they want. where they want. doing what they want. ameriprise. the strength of a leader in retirement planning. the heart of 10,000 advisors working with you one-to-one. together for your future. ♪ together for your future. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> 25 days and counting until america dives off that fiscal cliff. in just a few minutes, the president makes his point of the day by visiting a middle c
quickly here. john harward in washington here today. thanks a lot. the cheddar, bacon, onion sandwich that boosted sales for mcdonald's in december. >> steve liesman's exclusive interview with richmond fed president jeffrey lacquer. the lone dissenter at every fed policy meeting this year. more "squawk on the street" after this. the . >>> all right. if the sight of this sandwich makes your mouth water, then you are in luck. because the mcrib is back at mcdonald's today. but how much do limited time offers really impact on sales? we're here to break down the mcrib effect. ladies, great to have you with us. rachel, i'll start off with you. what sort of impact could we see potentially in the month of december? i read in the past, in 2010 at least, one of these limited introduction offers that it actually boosted sales by almost 5%. >> i think it depends on what the lto is and what the prior year same-store comparison is. i wouldn't expect to see a positive number of the magnitude that you're discussing. actually, frankly, it will probably be something in the single digit negatives. but a
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